32. A commission merchant received 30,000 lb. of potatoes from a farmer. He sold them for $1.75 per cwt. He charged the farmer a commission of 5% of the sale price. How much should he send the farmer? 33. A man whose rent was $50 per month in a heated apartment was notified that the rent was increased to $75 per month. a. What per cent of the former rent was the increase? b. The man's salary had been $175 per month. What per cent of his annual salary was his annual rent at the old rate? c. About the time when his rent was increased, his salary also was increased to $200 per month. What per cent of his new annual salary was his new annual rent? 34. A clerk in a dry goods store received $20 per week pay, and a commission of 3% on all sales over $100 per week. If her sales amounted one week to $285, what was her total income for the week? 35. The interest on certain Liberty Bonds is payable on October 15 and April 15. a. How much interest should a man receive on October 15 on $7500 worth of bonds, if the rate is 41%? b. On December 15th, he decides to sell the bonds. He is offered 91.25% of the face value of the bonds, and interest on the bonds from October 15th to date. should he receive? How much 36. Sugar once sold for 6¢ per pound. In the summer of 1920, it sold for 36¢ per pound. What per cent of the former price was the increase? 37. Problem. Study the rate of profits on various sales of a wholesale purchase of apples. a. A grocer bought 3300 lb. of apples at 6¢ per pound. What was the total cost? b. The commission merchant made a profit of 10% of the price at which he sold them. What were his profits? c. The grocer sold about 10% of the apples at 10¢ per pound. What per cent of the cost was his profit on such sales? What were his gross profits on these sales? d. He sold about 50% of the apples at 3 lb. for 25¢. What per cent of the cost was his profit on such sales? What were his gross profits on these sales? e. He sold the balance at $3.25 per bushel. What per cent of the cost was his profit on such sales, if a bushel contains 44 lb.? What were his gross profits on such sales? f. What was the total of his gross profits in handling the apples? What per cent of the cost is this gross profit? 38. Problem. To estimate the cost and a fair selling price of some pot-grown tulips. a. A florist bought 1000 tulips for $30.00, less 5% for cash payment. What was the net cost of the bulbs? b. He decided to place them in 5 in. bulb pots, five bulbs in a pot. How many pots will he need? c. What will the pots cost him, at the rate of $37.50 per thousand, less a discount of 10%? d. He estimates that one of his workmen will fill 40 pots in one hour. If the man receives $4.50 per 8 hr. day, what will be the cost of placing the bulbs in the pots? e. He estimates that it will take 2 hours for a man to place the pots in their place for winter storage, and 4 hours more to dig them out again in the spring and get them ready for sale. What is this additional cost for labor? f. What is the total cost of all these items? g. In order to pay all other expenses of his business and make what he considers a reasonable net profit, he decides to add to the cost, as found in part f, 150% of itself. What does this make for the selling price of the whole lot of tulips? What is the selling price per pot? 39. Problem. To estimate the cost of materials for draperies for 5 semicircular windows, each of which is 4 ft. in diameter. 66 a. Cretonne is obtainable with a pattern such that the up and down" dimension of the drapery for each window could be cut from the width of the material by cutting the "left to right" dimension of the drapery from the length of the material. How many yards of the material have to be purchased, and what is the cost at $2.50 per yard? b. How many yards of edging are required for the semicircular edges of the draperies? What is the cost at 12¢ per yard? c. How many yards of fringe are required for the straight edges? What is the cost at 18¢ per yard? d. What is the total cost for the materials? 40. Tell how to find the average of several numbers. 41. a. What is the formula for the percentage when the base and the rate are known? b. What is the rule? c. Bring in an example in which you can apply this rule. 42. a. What is the formula for finding the rate when the percentage and the base are known? b. What is the rule? c. Bring in an example in which you can apply this rule. 43. a. What is the formula for finding the base when the percentage and the rate are known? 66 b. What is the rule? c. Bring in an example in which you can apply this rule. 44. a. What is the difference in meaning between gross "profit and "net " profit? b. Tell how to determine the selling price when the cost and the rate of gross profit on the cost are known. c. Bring in an example that will make clear the meaning of these words. 66 45. a. What is a discount "? b. Tell some reasons why a discount is given. c. Tell how to find the selling price when the list price and the rate of discount are known. d. Bring in an example involving a discount. 46. a. What is meant by a "commission "? b. Do you know any persons who are paid on a commission basis? c. What reasons can you think of for paying persons in this manner? d. If possible, bring in an example of some person who was paid a commission for his services. 47. a. What is meant by "interest" on money? b. Why is interest paid? c. What is meant by the "amount "? 48. a. What is a promissory note? c. Who is the "payee" of the note? d. Write a promissory note having the proper form. SUPPLEMENTARY ABSTRACT DRILL EXERCISES The following exercises should be used according to the teacher's judgment of the needs of the class and of individual pupils of the class. Many teachers spend a few minutes (e.g. five minutes) daily (or frequently) on such drill work for the whole class, and then assign special practice to pupils who are found to be slow or inaccurate. For convenience in making assignments, the exercises are grouped according to the various processes. If a miscellaneous exercise is wanted, select one part from each of a number of exercises; e.g. one each from Exercises 113, 114, 115, 116, etc. SUGGESTED EXERCISES (Do not do two consecutive ones on the same day.) 1. Hold a slip of paper below Row II. Write upon it the sum of the two numbers in each column that appear above the paper. (Ten sums.) |